Tinubu Tasks NLNG on Domestic Gas Utilization

Nigeria's President Bola Tinubu has urged NLNG to prioritize domestic utilization of the country's gas resources, rather than solely focusing on international markets. Speaking at a meeting with the NLNG Board, President Tinubu expressed concern that while the company is expanding its operations and maximizing international opportunities, more attention must be paid to utilizing Nigeria's gas wealth for the benefit of its citizens.

Tinubu acknowledged NLNG's significant contributions to Nigeria's revenue, but emphasized that ordinary Nigerians should also directly benefit from the country's gas wealth. He commended the company's management for expanding capacity and improving returns on investment, assuring the board that his administration would provide necessary incentives to stimulate further growth.

NLNG Managing Director Adeleye Falade informed the President that the company had generated over $150 billion since its inception, with shareholders receiving about $47 billion in dividends. The company currently accounts for around five percent of global LNG supply and is preparing to inaugurate Train Seven, which will increase capacity by 35 percent.